On February 11, according to Nikkei News, Japan's Nomura Holdings and Daiwa Securities Group are joining forces with the three major banks Mitsubishi UFJ Financial Group, Sumitomo Mitsui Financial Group, and Mizuho Financial Group to jointly promote a pilot project for securities trading based on stablecoins, aiming to achieve 24-hour real-time settlement on the blockchain.

The project plans to convert assets such as stocks, government bonds, corporate bonds, investment trusts, and ETFs into digital securities. After investors place orders through brokers, the transactions will be settled in real time using yen stablecoins jointly issued by the three major banks, with asset rights simultaneously transferred to the buyers. The trial is expected to start as early as this month after notifying financial regulatory authorities, and may attract more financial institutions to participate in the future.

The project aims to support round-the-clock trading through the tamper-resistant characteristics of blockchain, extend trading hours, and shorten settlement cycles to invigorate the stock, bond, and investment trust markets. However, implementation still faces compliance and practical challenges in operational processes such as broker order verification. The pilot will focus on identifying and resolving related obstacles.